While Bulgari struggles and plans to cut back, Richemont-owned jeweller Van Cleef & Arpels plan to double their stores in China this year. The company’s CEO, Stanislas De Quercize, called their Chinese expansion “priority number one.” Click here to read more.Shares of Richemont rose yesterday as rumours emerged that the Swiss luxury group was planning to buy internet designer clothing retailer Net-a-Porter, which it already owns 29 percent of. Read the full story here at Reuters.
Image courtesy of www.vancleef-arpels.com